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European banks appear to be having no problems lending to Russian companies, despite sanctions relating to the Ukraine crisis, particularly if it is to a company that is backed by one of the prominent Russo-Anglophile businessmen, Roman Abramovich, owner of Chelsea football club.

Evraz, the Russian steelmaker, which has a steel mill in Ukraine and iron-ore interests in the country as well, said it had raised a $425 million loan from a syndicate of banks including some of the biggest names in European financing.

The funders behind the money lending secured on Evraz export revenues include Deutsche Bank, ING of